When Luiz Inácio Lula da Silva, Brazil’s president, visited China last year, he met BYD’s billionaire founder and chair, Wang Chuanfu.
Under a $1 billion-plus investment plan, BYD intends to start producing electric and hybrid automobiles this year at the site in Bahia state, which will also manufacture bus and truck chassis and process battery materials.
The new Brazil plant is no outlier—it falls into a wave of corporate Chinese investment in electric vehicle manufacturing supply chains in the world’s most important developing economies.
But the tariffs, paired with rising restrictions on Chinese investment on American soil, will have an immense impact on the global auto market, in effect shutting China’s world-leading EV makers out of the world’s biggest economy.
Government officials, executives, and experts say that the series of new cleantech tariffs issued by Washington and Brussels are forcing China’s leading players to sharpen their focus on markets in the rest of the world.
This, they argue, will lead to Chinese dominance across the world’s most important emerging markets, including Southeast Asia, Latin America, and the Middle East and the remaining Western economies that are less protectionist than the US and Europe.
The original article contains 448 words, the summary contains 193 words. Saved 57%. I’m a bot and I’m open source!
This is the best summary I could come up with:
When Luiz Inácio Lula da Silva, Brazil’s president, visited China last year, he met BYD’s billionaire founder and chair, Wang Chuanfu.
Under a $1 billion-plus investment plan, BYD intends to start producing electric and hybrid automobiles this year at the site in Bahia state, which will also manufacture bus and truck chassis and process battery materials.
The new Brazil plant is no outlier—it falls into a wave of corporate Chinese investment in electric vehicle manufacturing supply chains in the world’s most important developing economies.
But the tariffs, paired with rising restrictions on Chinese investment on American soil, will have an immense impact on the global auto market, in effect shutting China’s world-leading EV makers out of the world’s biggest economy.
Government officials, executives, and experts say that the series of new cleantech tariffs issued by Washington and Brussels are forcing China’s leading players to sharpen their focus on markets in the rest of the world.
This, they argue, will lead to Chinese dominance across the world’s most important emerging markets, including Southeast Asia, Latin America, and the Middle East and the remaining Western economies that are less protectionist than the US and Europe.
The original article contains 448 words, the summary contains 193 words. Saved 57%. I’m a bot and I’m open source!